Reuters logo
EXCLUSIVE-Cabela's set to receive two binding acquisition bids-sources
September 29, 2016 / 7:31 PM / a year ago

EXCLUSIVE-Cabela's set to receive two binding acquisition bids-sources

Sept 29 (Reuters) - Two consortia have formed to make offers to buy Cabela’s Inc this week, people familiar with the matter said, making the sale of the U.S. outdoor gear retailer more likely as it has been targeted by activist fund Elliott Management Corp.

Privately held retailer Bass Pro Shops, which has partnered with Goldman Sachs Group Inc’s private equity arm, is now working on a bid with U.S. bank Capital One Financial Corp , which is interested in Cabela’s credit card business, the sources said on Thursday.

Private equity firm Sycamore Partners has formed its own consortium with U.S. credit card company Synchrony Financial to make an offer, the sources added. Binding bids for Cabela’s are due this week, the people said.

The sources asked not to be identified because the deliberations are confidential. Cabela‘s, Goldman Sachs, Sycamore and Synchrony declined comment. Capital One and Bass Pro were not immediately available for comment. (Reporting by Mike Stone in New York; Additional reporting by Lauren Hirsch in New York; Editing by Jeffrey Benkoe)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below